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The Macro Group of Companies consists of ~250 companies. Hayden White and Matthew Woods of KPMG Perth have been appointed as Liquidators to 78 of these companies by Orders of the Court, which resulted from winding-up applications commenced by the Australian Securities and Investments Commission (“ASIC”) and creditors of the Group. A detailed list of the companies to which we have been appointed can be found in the section below.

In addition to the above, ASIC has a range of publicly available insolvency-related material for directors, practitioners, employees, and creditors, available from the ASIC Website.

FREQUENTLY ASKED QUESTIONS (FAQs)

What is a liquidation?

A Liquidation is the orderly winding up of the affairs of a company. It requires the appointed registered liquidator to manage and finalise all residual matters in respect to the company in liquidation. Please refer to ASIC's Liquidation: A guide for creditors for a general outline of the relevant tasks to be undertaken by a Liquidator.

What is a court liquidation?

A court liquidation is a type of liquidation that specifically comes about as a result of an order made by a Court, following a winding up application made to the Court, usually commenced by, but not limited to, a creditor of that company.

What is our role as liquidators?As Liquidators, our role includes, but is not limited to the following:

Collect, protect and realise any available assets of the subject company;

Conduct investigations into the affairs of the subject company, including investigations into potential voidable transactions and/or possible claims against company officers that may be commercial to set aside/pursue recoverability;

Enquire about the company’s failure and possible offences/breach of duties by company officers, and report possible offences and/or breaches to ASIC;

Distribute any surplus proceeds from realisations to priority creditors and then unsecured creditors, following the payment of the costs of the liquidation, and subject to the rights of secured creditors; and

Apply for deregistration of the subject company, following the completion of the liquidation, after which the company ceases to exist as a legal entity and is no longer able to carry out any business or other activity in its own right.

If you are a secured creditor and you have a valid security interest, you can appoint an independent and suitably qualified person (i.e. a receiver) to take control of, and realise some or all of the secured assets of the subject company, in order to have your secured debt repaid.

Another option is to ask us as the Liquidators of the subject company, to deal with the secured assets on your behalf. In this scenario, we would need to account to you for the costs of collecting and selling these assets.

In order to appropriately exercise any secured creditor rights, you must ensure that you have a valid security interest, and that all requisite steps have been taken as set out in the relevant agreement. You may wish to seek your own legal advice to confirm your position on this matter.

I am a creditor. Should I engage lawyers to represent my interests in a liquidation process?

It is entirely up to the individual as to whether or not to engage lawyers to represent their interests in a liquidation. Regardless of whether a creditor or investor has legal representation, we will continue to keep all creditors updated on the progress of the liquidations as and when appropriate.

I am a creditor or investor of a company that is part of the Corporate Group, but the company is not listed in the Schedule of Companies (PDF 40KB). What should I do?

As we are not in control of these entities, any enquiries or correspondence in respect to same should be directed to the registered director(s) of that entity. Alternatively, you may wish to seek your own legal advice in respect to the options available to you.

I have moved or changed my email, how do I update my information for future correspondence?

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.